Eos Energy Enters $25M Equipment Financing Agreement With Trinity Capital

Eos Energy Enterprises Inc EOSE subsidiary HI-POWER LLC has entered into a $25 million equipment financing agreement with Trinity Capital Inc TRIN.
The company plans to use funds to acquire equipment to expand the production of its proprietary aqueous Znyth batteries.
Located near more than 80% of Eos's suppliers, the Pittsburgh, Pennsylvania-based manufacturing facility produces long duration (3-12 hour) energy storage solutions.
"Securing this equipment financing is a key milestone in our ability to expand our manufacturing capacity and effectively balance our capital allocation strategy," commented CFO Sagar Kurada.
Eos Energy had cash and cash equivalents of $75 million as of June 30, 2021.
Price Action: EOSE shares are trading lower by 2.09% at $13.13, while TRIN is down by 1.90% at $15.98 on the last check Tuesday.